We had to replace multiple floors of carpets, paint the whole 2 floors, fix doors, fix broken drywalls, baseboards.

The contractor I hired to paint interior of home has left it incomplete.

I can buy tile, light fixtures, bathroom fixtures, drywall, paint, primer.

A lot of those older houses have corroded cast iron or galvanized pipes.Asbestos - This was use in many house products all the way back to the 30s.Lead-based paint - This was used up until 1977.  

I haven't yet found a pressure treated and fire rated lumber or an intumescent paint that can be used for exterior applications.

., roof repair, window replacement, floor replacement, painting, etc.

But yes, overall it would mean net supply increase.I know I'm probably the only one here on this board that has this view, I don't paint myself as a contrarian.

Positive ROI include siding and paint. 

No chipping paint (but only if have a child under 6) garage door isn't needed.

I recently talked to a local insurance agent that has been assisting some of the out of town buyers with insurance policies and the majority of them have purchased these properties sight unseen without any knowledge of the neighborhood they're in, school district, condition of the home itself apart from the pictures with fresh paint and new countertop or even seeing the homes surrounding it that have been condemned by the city.